Homes sales, median price down in March - WAOW - Newsline 9, Wausau News, Weather, Sports

Homes sales, median price down in March

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MADISON, Wis. (AP) -- Home sales and the median price of those houses in Wisconsin took another tumble in March.

The Wisconsin Realtors Association says sales of existing homes declined 18 1/2 percent and the median sale price dropped 9.6 percent compared to the same month last year.

About 3,700 homes were sold statewide last month, compared to about 4,600 in March of last year.  The median price of homes sold in March was $123,000, down from $136,000 in March 2010.

Association president Bill Malkasian says buyers were "highly motivated" last year because of the federal homebuyer tax rebates.  Malkasian tells the Journal Sentinel that mortgage interest rates and income levels have remained about the same as last year.

Online Reporter: Cami Mountain

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